VEIC has won funding to help businesses reduce their transportation costs. VEIC was one of just eight entities selected for funding by the 11th Hour Project, out of a nationally competitive pool of more than 100 applicants. The 11th Hour Project is a program of the Schmidt Family Foundation, which is dedicated to the advancement of clean energy development, and the promotion of electric vehicles.
VEIC will use the awarded funds to expand the use of electric vehicles in Vermont, and create a new model for stabilizing, and reducing transportation costs for businesses. With the help of local partners, VEIC will develop a Transportation Energy Services Company, which will offer businesses guidance and access to sustainable financing options, and technical assistance for electric vehicle fleet acquisition and the installation of workplace charging infrastructure.
We are thrilled to be one of only eight organizations selected by the 11th Hour Project to promote electric vehicle use and reduce the country’s dependence on fossil fuels.” said Karen Glitman, Director of Transportation Efficiency at VEIC. “Our project will work to tackle the upfront costs associated with electric vehicles and enable businesses to take a leadership role in support of clean transportation options.
This project will help businesses access multiple financial resources, including low interest loans through the Vermont State Infrastructure Bank, renewable fuel credits, and eventually funds provided directly by the Transportation Energy Services Company. The project goal is to provide businesses with information on the benefits of transitioning to electric vehicles and the resources necessary to make that shift. Participating businesses will not only reduce their transportation costs, but also their environmental impact.
VEIC has become a leader in transportation efficiency, providing critically evaluated research, analysis, implementation, and reporting to the industry. In 2012, VEIC convened state agencies, regional and municipal planners, environmental organizations and utilities to found Drive Electric Vermont with the mission to increase the deployment of electric vehicles in Vermont. Since Drive Electric Vermont launched the number of electric vehicles in the state has increased by nearly 800%.
Learn more about VEIC’s work in transportation efficiency.